What Does Your Pricing Tell Your Customers?

5 replies
Just wanted to share a thought on pricing

Figuring out the best price for any product can be tricky.

A temptation when creating and launching our own products is too maybe start with a low price in the hope of generating some quick returns.

However the message sent to the prospective buyer can be wrong if you do this.

Your product sales letter needs to exude confidence and should therefore include a confident price that reflects the true value of your offer.

The focus of our sales copy should be on the FABs (Features and Benefits) and the value to the customer ... do this well and you will sell more for more ... plus keep your affiliate motivated and happy.


John
#customers #pricing
  • Profile picture of the author Amanda_Davis
    Surely, you just test pricing?

    Do A/B testing on your sales letter, or split your list and send different prices to different segments.
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    • Profile picture of the author Mark Kaye
      Originally Posted by Amanda_Davis View Post

      Surely, you just test pricing?

      Do A/B testing on your sales letter, or split your list and send different prices to different segments.
      I try to find similar products and see what the market average is. Then, I always price a little higher. That way, I'm not the cheapest out there (which always throws up a red-flag for me in terms of quality) and I'm not pricing myself out of the marketplace.
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  • Profile picture of the author Mangozoom
    In order to optimise the price ... but I bet you some split results show the higher price can work better?
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    • Profile picture of the author myob
      Start high to begin with. It's much easier to offer "discounts" or light products than it is to raise prices later. For example, I sell an ebook for $295, a "light" edition for a much lower price, a $7 report related to the ebook, and a free autoresponder course (with plugs for the product). This marketing technique is common in most niches. Some market it as "bronze", "silver", "gold", and "platinum" editions or versions. Offer your market a choice and let them tell you the price they are most comfortable with.
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  • Profile picture of the author kemdev
    Price for value.

    You have to ask yourself how much you would pay for the product you're selling. It's all about providing the right amount of value for the price tag.
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